Crown Agents Act 1979

Miscellaneous and generalU.K.

27 Exemptions.U.K.

(1)The Board and every wholly owned subsidiary of the Board shall be exempt from corporation tax.

F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)M1The provisions of the Moneylenders Act 1900 to 1927 and the Moneylenders Acts (Northern Ireland) 1900 to 1969 shall not apply—

(a)to F2. . .the Board; or

(b)to any body corporate the whole of whose issued share capital is held by or on behalf of the Board.

F328. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

29 Administrative expenses.U.K.

Any administrative expenses incurred by the Minister in connection with the provisions of this Act shall be defrayed out of money provided by Parliament.

30 Orders, regulations and consents.U.K.

(1)An order or regulations made by the Minister under any provision of this Act—

(a)may make different provision in relation to different cases or circumstances;

(b)may make the consent or approval of the Minister material for the purposes of any provision of the order or regulations; and

(c)may contain such supplementary, incidental and transitional provisions as appear expedient to the Minister.

(2)Any power of the Minister to make an order under any provision of this Act shall be exercisable by statutory instrument.

(3)Any order made under any provision of this Act, except—

(a)an order under section 1(1) F4. . .or paragraph 24(2) of Schedule 5; and

(b)an order which is required to be laid before Parliament or the House of Commons in draft,

shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(4)Any consent given by the Minister under this Act—

(a)may be given either generally or so as to apply only to the doing of specified things by or in relation to specified persons;

(b)may, if given generally, be revoked by the Minister; and

(c)may in any case be given either unconditionally or subject to such conditions as the Minister thinks fit.

(5)Where any body corporate is given power by or under this Act to do something only with the consent of the Minister, then, if that consent is given subject to conditions, the body corporate shall not have power to do anything by virtue of that consent except in accordance with the conditions.

31 Interpretation.U.K.

(1)In this Act—

• “acounting year” means, F5. . . a period of twelve months ending with the 31st December in any year;

• “the appointed day” means the day appointed by the Minister under section 1(1);

• “the Board” means the Crown Agents Holding and Realisation Board;

• F5. . .

• “the Crown Agents” means the body corporate established by section 1;

• F5. . .

• “functions” includes powers and duties;

• “the Minister” means the Minister of Overseas Development;

• “pension”, in relation to any person, means a pension, whether contributory or not, of any kind whatever payable to or in respect of him, and includes an allowance or a gratuity so payable (whether on retirement or otherwise) and a return of contributions to a pension fund or of insurance premiums, with or without interest or any other addition;

• “performance”, in relation to functions, includes the exercise of powers as well as the performance of duties, and “perform” shall be construed accordingly;

• “regulations” means regulations made by the Minister with the approval of the Treasury;

• F5. . .

• “subsidiary” shall be construed in accordance with [F6section 736 of the Companies Act 1985]or [F7Article 4 of the Companies (Northern Ireland) Order 1986], and “wholly owned subsidiary” shall be construed in accordance with [F8[F9section 736(2)]of the Companies Act 1985]or [F10[F11Article 4(2)]of that Order of 1986];

• “the unincorporated Agents” has the meaning given by section 1(2)(b).

F12(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)Any provision of this Act conferring a power to give directions or instructions shall be construed as imposing, on any person to whom directions or instructions are given thereunder, a duty to comply with those directions or instructions.

32 Consequential amendments, transitional provisions and repeals.U.K.

(1)The enactment mentioned in Part I of Schedule 6 shall have effect as from the appointed day subject to the amendments there specified (being amendments consequential on the provisions of this Act).

(2)This Act shall have effect subject to the transitional provisions contained in Part II of Schedule 6.

(3)The enactments mentioned in Schedule 7 are hereby repealed as from the appointed day to the extent specified in the third column of that Schedule.

33 Citation and extent.U.K.

(1)This Act may be cited as the Crown Agents Act 1979.

(2)This Act extends to Northern Ireland.